ACACIA RESEARCH CORPORATION

ACACIA RESEARCH

April 2009

Title Page

ACACIA RESEARCH (NASDAQ:ACTG)

This presentation contains forward looking statements within themeaning of the “safe” harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements address future events and conditions concerning the company’s business plans. Such statements are based on management’s current expectations and are subject to a number of factors and uncertainties, such as futureeconomic conditions, changes in consumer demand, legislative, regulatory and competitive developments, and other circumstancesaffecting anticipated revenues and costs, which may cause actualresults to differ materially. The company expressly disclaims any future obligation or undertaking to update or revise any forward looking statement contained herein.

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Overview

OVERVIEW

Leader in Patent Licensing

Serving Large Growing Market

Over 100 Patented Technologies

Earnings Leverage - Fixed Cost

$54 Million in Cash & Investments – No Debt

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Growth in Patent Licensing

1990 2000 2007

$500 BILLION

$15 BILLION

$150 BILLION

PATENT LICENSING

GROWTH IN U.S. LICENSING REVENUE

Source: Deloitte & Touche

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Patent Licensing

Technology licensing revenues are expected to grow to $500 billion ayear by 2007.*

Qualcomm Generated $4 Billion In 2008 Licensing its CDMA Patents…89%Margins.

IBM Generate $1.5 to $2 Billion Per Year in Licensing

Philips Electronics Generates $570 Million Per Year in Licensing… 100%of Earnings for Consumer Electronics Business.

Thomson Generates $390 Million Per Year in Licensing…75% of TotalEarnings.

*Source: Deloitte & Touche

Patent Licensing

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Patent & Revenue Distribution60% of patents are owned by small companies and individual inventors, universities and research labs.

40% of patents are owned by large corporations.

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1% of revenues are received by small companies, individual inventors, universities and research labs.

99% of revenues are received by large corporations.

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Source: Intellectual Ventures

60% 40%99%

1%

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QUARTERLY GROWTH IN PATENT PORTFOLIOS

1st

2nd Qtr2006

3rd Qtr2006

4th Qtr2006

1st Qtr2007

2nd Qtr2007

3rd Qtr2007

4th Qtr2007

1st Qtr2008

2nd Qtr2008

3rd Qtr2008

4th Qtr2008

1st Qtr2009

4650

57

81

Growth in Patent Portfolios

63

74

8893 95 99 100+ 100+

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QUARTERLY GROWTH IN REVENUE PRODUCING LICENSING PROGRAMS

1st

2nd Qtr2006

3rd Qtr2006

4th Qtr2006

1st Qtr2007

2nd Qtr2007

3rd Qtr2007

4th Qtr2007

1st Qtr2008

2nd Qtr2008

3rd Qtr2008

4th Qtr2008

1st Qtr2009

18 18 20

Growth in Licensing Programs

242525

2832

35

43

4852

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Growth 12 month Revenues

$4,284,000

$19,600,000

$34,800,000

$52,597,000

$48,227,000

2004 2005 2006 2007 2008

ANNUAL REVENUES

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Bloomberg108 Cable TV Companies

CinemaNowLodgeNet

OnCommandThe Walt Disney Company

TribuneWendy’s

WWEXerox

Representative LicenseesLicensees

Licensees

DIGITAL MEDIA TRANSMISSION

USER ACTIVATED INTERNETADVERTISING

CendantOrbitz

Priceline.comTravelocity

CREDIT CARD FRAUD PROTECTIONAlbertsons

ExxonGAP

J.C. PenneyOffice Depot

IMAGE RESOLUTION ENHANCEMENT

CanonXerox/PARC

Snell & WilcoxSamsung

EpsonThomson

LG ElectronicsSharp

Hewlett Packard

AUDIO/VIDEO ENHANCEMENT & SYNCHRONIZATION

HitachiFunai

SamsungSanyoSony

INTERACTIVE TELEVISIONMatsushitaSamsung

SonyThomson

MULTI-DIMENSIONAL BAR CODESAdidasAMDNokia

AllstateDell

COMPACT DISK TECHNOLOGYFunai RESOURCE SCHEDULING

3MCerner

Rockwell

Boston ScientificHitachi

IntelADP

Texas Instruments

Radio Shack7-ElevenTarget

CVS PharmacyWalgreen’s

LAPTOP CONNECTIVITYSony

Fujitsu

MitsubishiToshibaPioneerFujitsuPhilips

IBM

GEMcKessonSiemens

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New Licensing ProgramsNew Licensing Programs

CELL PHONE LOCATION BASED SERVICES• Wireless Emergency (E911) Phase II Service, Handset Based Navigation

COMPILER TECHNOLOGY• Software object pre-compilation & linking in software compilers

CELL PHONE OVER AIR PROGRAMMING• Updating cellular phones using a common messaging protocol such as SMS

DATABASE ACCESS• Facilitates inter-operation between databases & applications.

ECOMMERCE PRICING• Internet auctions/competitive transactions

ENCRYPTED MEDIA & PLAYBACK DEVICES• Copy protection in Blu-Ray Players, High Definition Discs, Game Consoles,

PC’s with High Definition Drives.

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New Licensing Programs (cont’d)New Licensing Programs

FLASH MEMORY• 16 patents covering technologies for enhancing performance & reliability of the

flash memory cell including NOR flash memory extensively used in cell phones.

HEATED SURGICAL BLADES• Surgical instruments heated to reduce bleeding when tissue is cut. Commonly

known as the “Shaw Blade”.

• Stabilizing medical images for interventional procedures such as cardiaccatheters and stents and diagnostic procedures such as visualization ofarterial lesions.

MEDICAL IMAGE STABILIZATION

MEDICAL PICTURE ARCHIVING & COMMUNCATION SYSTEMS (PACS)• Progressive downloading technology used in medical systems which enable

multiple, remote users to simultaneously access image data. Used by hospitalsto store, archive and transmit patient image data.

• Siemens Licensed

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MICROPROCESSOR ENHANCEMENT• Advanced microprocessor architecture for conditioned execution of instructions

yielding significant improvements in microprocessor speed.

ONLINE AD TRACKING• Tracking click through rates of website advertising.

MULTI-DIMENSIONAL DATABASE COMPRESSION• Enables compressed information to be accessible in real time and generates

cost savings in enterprise storage.

ONLINE AUCTION GUARANTEES• Technology for securing the performance of online auction participants such as

using guarantees and providing corresponding visual indication of guaranteedauctions.

PEER TO PEER COMMUNICATION• Network communication between devices to share content including music &

photos.

• Optics for image projection in business/home theaters and rear projection TV’sPROJECTOR TECHNOLOGY

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RULE BASED MONITORING• Technology to monitor hardware & software systems including network nodes,

servers, databases and applications.

• 8 licenses including BMC, CA & SAS

SURGICAL CATHETERS• Surgical devices used in procedures such as percutaneously insertable catheters

and cannulas used to access the circulatory system.

TELEMATICS• Wireless GPS tracking/mobile maps

• 7 licenses including @Road & UPS

STORAGE TECHNOLOGY• Storage device data transfer, fault tolerance, caching, data integrity and error

correction.

• Copiers, Printers, Faxes

• 7 licenses including Matsushita & Toshiba

REMOTE MANAGEMENT OF IMAGING DEVICES

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Paul R. Ryan – Chairman and CEOCEO of Acacia Research since 1997Cornell University

Robert “Chip” Harris II – PresidentPresident – Entertainment Properties Trust (NYSE:EPR)Senior VP – AMC EntertainmentUniversity of Southern California

Clayton J. Haynes – Chief Financial Officer & Sr. V.P.Manager – PricewaterhouseCoopers LLPUniversity of California at Los Angeles

Dooyong Lee – Executive Vice President Chief Operating Officer – Global Patent Holdings/TechSearchPresident – LPS Group (NYSE:TOC)Co-Founder – FRI (Fish & Richardson)Licensing Executive – AT&T Bell Laboratories/Lucent TechnologiesOberlin College and University of California at Berkeley

Corporate Management

CORPORATE MANAGEMENT

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Marvin Key – Sr. Vice PresidentThomas Weisel PartnersSalomon BrothersLehman BrothersClemson University & Southern Methodist University Cox School of Business

Robert Stewart – Sr. Vice President Corporate FinancePresident – Macallan, Dunhill & AssociatesUniversity of Colorado/Boulder

Corporate Management

CORPORATE MANAGEMENT

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Erik Ahroon – Senior ManagerPresident – Cadis Design GroupProgram Manager – Argo-Tech Carter CryogenicsProject Engineer – Quantum TechnologiesProduct Development Engineer – Star Trac FitnessUniversity of California, Santa Barbara & University of California, Irvine

Brad Botsch– Vice President Vice President & Chief Intellectual Property Officer - ON SemiconductorAssociate General Counsel - Advanced Micro Devices (AMD)Division Patent Attorney - MotorolaPurdue University & Arizona State University

Karlton Butts – Vice PresidentLoeb & LoebRiordan & McKinzieFinnegan, Henderson, Farabon, Garrett & DunnerGeorge Washington University Law School

Business Dev & Licensing

BUSINESS DEVELOPMENT & LICENSING

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Jon Eastman – Vice PresidentDirector – Strategic Business Planning – Pioneer North AmericaProduct Manager & Systems Engineer – DirecTVUniversity of California, Irvine & University of Southern California

Marc Frechette – Vice PresidentPatent Attorney – Crockett & Crockett, P.C.Intellectual Property Attorney – Pioneer ElectronicsIntellectual Property Engineer – Conexant Systems, Inc.Engineering Manager – Aerochem, Inc.Manufacturing Engineering – The Boeing CompanyBoston University & Whittier Law School

Joseph Granara – Senior Contracts ManagerManager – BroadcomManager – Conexant Systems, Inc.Manager – Rockwell International CorporationCalifornia State University, Northrigde & University of LaVerne



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Peter Kim – Senior ManagerFounder/President – Bay Ridge Partners Search FundAssociate – IPVALUE ManagementInventor/Head of Financial Services – Walker Digital CorporationNew York University’s Stern School of Business

Tisha Stender – Vice PresidentManaging Attorney – Alea Global LawDavid International Trading CompanyPillsbury WinthropLoyola University Chicago Law School



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Jonathan Taub – Vice PresidentMicrosoft – Director, Strategic Alliances, Mobile & Embedded Devices

- Business Development Manager, Security Business UnitNortel Networks – Director, Business DevelopmentCovington & Burling – Associate, Intellectual Property & Corporate LawWharton School of Business & Harvard Law School

Edward Treska – Vice PresidentSRS Labs, Inc. – General Counsel, Director of Patents and LicensingKnobbe, Martens, Olson & BearTRW Space & Technology GroupColorado State University and University of San Diego School of Law

James Trueman – Vice PresidentManaging Partner – M1 PartnersEngagement Manager – McKinsey & CompanyProduct/Business Development Manager – Oracle CorporationSenior Product Manager – Integrated Decision SystemsCEO – Computer SolutionsUniversity of California, Berkeley & The Wharton School



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Matthew Vella – Sr. Vice President ATI Research, Inc. – Senior Intellectual Property CounselNortel Networks, Inc. – Lead Patent License CounselNortel Networks Corporation – CounselCarleton University & University of Toronto Law School

David White – Sr. Vice PresidentPresident – Intellectual Property Holdings, Inc.Vice President – Discovision Associates (Pioneer Electronics patent licensing subsidiary)Michigan State & Detroit College of Law

Steve Wong – Vice PresidentManaging Patent Attorney – Pioneer North America, Inc.Associate Patent Attorney – Chan Law Group, LLCDeputy District Attorney – Stanislaus County District Attorney’s OfficeSystems Engineer – Intermetrics, Inc.Systems Engineer – General Dynamics/Space Systems DivisionSystems Engineer – Western Space and Missile Center, Department of DefenseUniversity of Arizona & Thomas Jefferson School of Law



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Fahim Aftab – Principal EngineerSenior Engineer – Semiconductor InsightsUniversity of Engineering & Technology & University of Michigan, Ann Arbor

Jeffrey Anderson – Vice PresidentDirector of Software – WebsenseDirector of Software Development – Sun MicrosystemsManager of Software Development – Cray Research

Marc Booth – Vice PresidentDirector of Engineering - Nicholas LaboratoriesV.P. Engineering - In The Air NetSr. Director - Powerwave TechnologiesV.P. Engineering - Comarco Wireless TechnologiesV.P. Engineering - Sony CorporationUniversity of California Riverside & University of Southern California

Robert DePirro – Vice PresidentSr. V.P. Media Technology – IntertainerSr. Systems Engineer – Vanstar

Engineering

ENGINEERING

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Phillip Mitchell – Vice PresidentNorth American Marketing Manager - PolytecManager, Technology Development - Newport CorporationEngineering/Business Manager - JMAR TechnologiesTechnical & Product Marketing Manager - Melles GriotSenior Member Technical Staff - Hughes Research LaboratoriesCarnegie-Mellon University

Amy Pearson – DirectorPatent Attorney - Actown ElectrocoilMechanical Engineer - Engineering Animation/EDSMechanical Engineering Intern – Motorola, Inc.Iowa State University & John Marshall Law School

Charles Raasch – Vice PresidentSenior Director – Quartics, Inc.Division Director – Conexant Systems, Inc.Division Director – Conexant Systems, Inc. (Rockwell Semiconductor)Manager – Rockwell SemiconductorDirector – AST Research, Inc.Principal Engineer – TnT ResearchEngineer – Ford AerospaceCalifornia State University, Fullerton

Engineering II

ENGINEERING

Documents

ACACIA RESEARCH CORPORATION